Writing a will as early as possible is generally a good idea. You don't need to be older or have assets worth thousands of dollars to do it. Y You can update your will when circumstances change. However, after signing your initial will, it becomes an official...
Caring For You In The Long Term
Estate Planning
When should you update your will?
Estate planning protects your loved ones when you die or become incapacitated. A will is one of the vital documents to include in your plan. It allows you to state your wishes on how to distribute assets. You will also choose a guardian for your children and the...
Why should you make long-term care part of your estate plan?
Nobody wants to end up in a nursing home, so most people don’t make a plan for their long-term care. But there is the likelihood that at some point in your life, you will need some sort of skilled nursing services. That’s why it is so important to make long-term care...
Reasons you’re not too young for an estate plan
When you ask relatively younger people why they don’t have an estate plan, they will often tell you that they are too young. They won’t claim that writing a will isn’t important or that there aren’t estate planning documents that can help them. They know that, but...
How do you choose a power of attorney?
Powers of attorney (POAs) are legal document used in estate planning that grants someone else the authority to make financial and medical decisions on your behalf, in the event that you become incapacitated or otherwise unable to make those decisions yourself. You can...
Revocable living trusts offer many advantages with few drawbacks
Trust funds fill a vital role in modern estate planning. They allow you to address specific problems, such as providing for a loved one with special needs. They can also help you preserve your wealth for future generations. Revocable living trusts are among the most...
Is a corporate executor right for your estate?
When it comes to estate planning, many people are not sure who to appoint as their executor. For some, the answer may be a family member or friend. But for others, a corporate executor may be the best choice. So if you're looking for impartiality, expertise, and...
Can a younger family member inherit your home in a 55+ community?
More and more people are moving into senior communities as they get older. These communities, which typically have a minimum 55 years of age, offer the benefits of homeownership, including having your own place with a yard and some space between you and your...
Do you need to make a pet trust?
As you’re doing your estate planning, you may want to think about your pet and what will happen to them if you pass away. Perhaps you’re young and you’re just worried about what would happen if you passed away unexpectedly. Or perhaps you have a pet that can live for...
How can you ask your parents about their estate plan?
It can sometimes be difficult to bring up estate planning with your parents. You naturally want to know if they've done their planning so that you know a framework is in place, especially regarding medical decisions and things of this nature. But you also may feel...